The dominant economic sectors in Chaffee County are health care, construction, tourism and real estate related industries which is typical of high amenity mountain area economies. Job growth has been strong since the Great Recession but split between middle and low wage industries.

Employment (job) levels in Chaffee County have exceeded the pre-recession levels of 2008 by 556 jobs, an increase of 8.3 percent. Since 2010, job growth occurred at an annual rate of 2.6 percent. The largest increases were in Health Care and Accommodation and Food Services, which each gained just over 200 jobs. Health care is expanding nationally to meet the needs of the aging baby boomer generation. The hotel and restaurant sector in Chaffee County has grown substantially as tourism and second home appeal have increased.

The average wage in Chaffee County is $33,413 per year, or about $16.00 per hour. The self-sufficiency wage for one adult and a preschooler is estimated at $18.70 per hour and approximately $14.00 per hour for two working adults with two children. 1 Since 2010, about a quarter of the new jobs were in health care with an average wage of $40,000 per year ($19.36/hr). Another quarter of the new jobs however were in hotels and restaurants with an average wage (before gratuities) of just $17,500 or $8.41 per hour, just above federal minimum wage.

HOUSING COST

Due to vast amounts of National Forest and State lands, only about 17% of the land is available for development in Chaffee County. Prices vary depending on location and amenities such as trees, terrain, views, water and utilities.
For information on building costs, septic systems and other concerns contact a Realtor from our membership directory.
The growth both in tourism and relocation is also evident in a substantial increase in sales tax.
The following statistics reflect that growth:

The proportion of second homes in Chaffee County is currently estimated at 17 percent and has not changed significantly for 15 years, since the 2000 U.S. Census. Many local builders, tradespeople, and real estate brokers earn the majority of their living serving this segment of the housing market.
Source Chaffee County Housing Needs Assessment August 26, 20

The Town of Buena Vista is projecting $1,429,599 in sales tax in 2017, an increase of 3%.
Town is also projecting a 3% increase in the County‘s allocation in sales tax to the Town resulting in $919,004 in revenues.

Buena Vista has experienced the following increases in sales tax excluding the onetime sales tax audit revenue in 2010.

2012 to 2013 an increase of 3.15%
2013 to 2014 an increase of 5.0%
2014 to 2015 an increase of 7.0%
2015 to 2016 an increase of 10.0%